Brokerages Set Popular Inc (NASDAQ:BPOP) Target Price at $62.75

Popular Inc (NASDAQ:BPOP) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $62.75.

Several equities analysts have recently commented on the company. Zacks Investment Research raised Popular from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Friday, July 26th. BTIG Research reaffirmed a “buy” rating and issued a $66.00 price target on shares of Popular in a research note on Thursday, July 25th. ValuEngine lowered Popular from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, BidaskClub raised Popular from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th.

Shares of Popular stock traded up $1.02 during trading hours on Friday, hitting $52.54. The company’s stock had a trading volume of 242,700 shares, compared to its average volume of 533,512. Popular has a twelve month low of $44.22 and a twelve month high of $58.99. The firm has a fifty day moving average of $55.20 and a 200-day moving average of $54.70. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 11.01 and a beta of 1.15.

Popular (NASDAQ:BPOP) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.12. Popular had a return on equity of 11.29% and a net margin of 20.86%. The business had revenue of $614.60 million for the quarter, compared to analyst estimates of $620.22 million. During the same quarter in the prior year, the company posted $2.73 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts predict that Popular will post 6.73 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. KAMES CAPITAL plc lifted its stake in Popular by 23.6% during the 2nd quarter. KAMES CAPITAL plc now owns 36,311 shares of the bank’s stock worth $1,969,000 after acquiring an additional 6,945 shares in the last quarter. Cerebellum GP LLC raised its position in Popular by 9.5% in the 1st quarter. Cerebellum GP LLC now owns 5,866 shares of the bank’s stock valued at $306,000 after purchasing an additional 511 shares in the last quarter. State of Alaska Department of Revenue raised its position in Popular by 41.4% in the 1st quarter. State of Alaska Department of Revenue now owns 27,879 shares of the bank’s stock valued at $1,452,000 after purchasing an additional 8,160 shares in the last quarter. Parametrica Management Ltd acquired a new stake in Popular in the 1st quarter valued at about $387,000. Finally, ARP Americas LP raised its position in Popular by 285.3% in the 1st quarter. ARP Americas LP now owns 23,116 shares of the bank’s stock valued at $1,205,000 after purchasing an additional 17,116 shares in the last quarter. 90.51% of the stock is currently owned by hedge funds and other institutional investors.

About Popular

Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.

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